The Harborside senior living facility has filed a motion seeking approval for an $80 million sale to SR HSG Acquisitions, marking a significant transformation from a continuing care retirement community to a rental-based model. The transaction aims to preserve residents' homes while addressing the facility's financial challenges.
CarePoint Health Systems Inc. has filed a motion in Delaware bankruptcy court to establish March 14, 2025, as the deadline for creditors to file claims in their Chapter 11 case. The healthcare provider is taking a cost-efficient approach to notifying potential claimants, opting for publication notices over individual mailings to former patients, potentially saving $300,000 in administrative costs.
A Texas bankruptcy court has approved Wellpath Holdings' sale of its recovery solutions business to RS Purchaser LLC for approximately $395 million plus additional considerations, marking a significant milestone in the company's Chapter 11 proceedings. The January 21, 2025 order by Judge Alfredo R. Pérez includes the transfer of multiple subsidiaries and provides for the dismissal of related Chapter 11 cases upon closing.
Zachry Holdings, Inc. has filed a modified Chapter 11 reorganization plan in Texas bankruptcy court, outlining its strategy to restructure $281.25 million in debt while maintaining operations. The plan includes a $50 million capital contribution from its parent company and establishes a trust for general unsecured creditors, with a confirmation hearing scheduled for February 2025.
Party City received court approval to proceed with store closing sales at approximately 300 locations as part of its bankruptcy restructuring. The January 21, 2025 order from the Texas bankruptcy court establishes comprehensive procedures for the closures, including guidelines for liquidation sales and employee retention bonuses. The retailer is working with Gordon Brothers Retail Partners to implement the store closing process under carefully structured protocols that protect all stakeholders' interests.
